News Financial test checks daily and fixed deposits: Where do savers receive high interest rates?

Thursday, 14.12.17 , written by Annabell Meyer The choice of investment is often anything but easy for many savers. Because the savings should usually be secure and still bring in return. Due to the low interest rates, however, this hardly seems possible. The Stiftung Warentest has put together a recent comparison, where there are as high as possible fixed or daily money interest rates. >

Finanztest findet im Vergleich Top-Angebote für Fest- und Tagesgeld

Even with the daily and fixed money for savers high interest rates are possible

  • Security and high interest rates are among the most important criteria when investing, which is why many savers rely on a fixed or overnight money.
  • In a recent comparison, the Stiftung Warentest checks which offers promise the highest return.
  • To find the investment that best suits your own wishes, a personal offer is recommended for those interested.

For savers, given the persistently low interest rates, it is difficult to earn a high return on their savings without taking a big risk at the same time. For example, the interest rates for some investments are below the one-percent mark . All the more tempting seemingly highly discounted offers, in which investors invest in corporate bonds, for example. However, security is often lacking, leaving savers in danger of losing all their money.

Stiftung Warentest therefore advises those interested to be cautious and recommends relying on secure investments such as daily or term money. These should be protected by a good deposit guarantee, so that savers retain the invested money if the bank goes bankrupt. For the current financial test (01/2018), the consumer advocates have compared in a comparison of various offers for daily and fixed money and show, among other things, where investors get the best terms.

Stiftung Warentest: Day and time money counts for security

Instead of a savings account, many people use the option of a daily or fixed-term account to get their money back. While customers usually do not receive any interest when they sign up at the local bank branch, higher returns are often possible if they opt for such an investment online.

In a new comparison, the Stiftung Warentest has taken 138 providers of daily and fixed money under the microscope. Above all, the security of the offers was important . This implies that the financial institution has its seat in the European Union and offers a deposit insurance, with which savers are compensated in the case of a bankruptcy of the bank after 21 days at the latest. The upper limit for the compensation should not be less than 100,000 euros.

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Much flexibility: Financial test finds daily money with the best interest rates

The comparison of the Stiftung Warentest shows that for savers both the daily and the time deposit some worthwhile offers . The advantage of a call money account is the high flexibility for investors. They can transfer their savings to their current account at any time and access it within a few days. The highest interest rates for the daily allowance get interested in these providers:

  • Oney Bank – Flexgeld24 (0.65 percent)
  • Hoist Finance – overnight money (0.6 percent)
  • PDS Niederbayern-Oberpfalz – My daily allowance online (0.6 percent)

Tip: For some providers, deposit insurance is limited to individual countries. When choosing a suitable call money account, it is therefore important to pay attention to the fine print and compare different offers. An individual comparison helps you to find a suitable offer.

Time deposit accounts in comparison: Almost two percent interest is possible

Unlike a call money account, a time deposit account is usually associated with a fixed term and a longer notice period. However, according to the test can often achieve a higher return. In comparison, Stiftung Warentest has checked various offers for fixed-term deposits for several terms .

While Yapi Kredi Bank (“Euro-Plus Time Deposit Account”) offers the highest interest rates at 1.15 percent for one-year fixed-income investments, CKV Bank (“time deposits”) is at three and five-year maturities (1.35 and 1.8) Percent).

With the latter, however, the offer can not be concluded directly with the bank, but via so-called interest portals. The same applies to the overnight money offers at Oney Bank and Hoist Finance. The portals serve as brokers, which show savers various offers from mostly foreign banks and make a conclusion possible. However, the service providers are partially critical of this service, as some products do not offer the security they want in the test.

Select investment according to individual requirements

Consumers, who hope for their savings more return and are a bit risk-taking, advises the Stiftung Warentest to a combined investment . For example, savers can close a daily or fixed-term deposit with exchange-traded index funds (ETFs). “The mix of safe-haven and equities ETF is currently the only recommended way to preserve the chance of an attractive return,” states the consumer organization.

When choosing an investment, however, not only the potential return should play a role. Rather, the individual circumstances and wishes must be taken into account. Therefore, it is important for those interested to get personally advised on the different investment forms.

  • Here are tips and more information about the investment. >
  • Annabell Meyer
  • editorial staff

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